Massive Oversight: Why huge money problems are consistently missed
Posted By: Matt in Budget on 07/08/2017 at 07:29:05
You'd be hard pressed to find an individual who has it all figured out as far as money goes.
What you typically get is an person, couple or family that tries very hard and succeeds or fails based on the finest of details but also overlooking the obvious as they tend to their money and working diligently to save it.
The larger scale problems are of the utmost concern, particularly when you consider the penchant for people to miss them completely. And when you talk about those large scale issues, you're talking about money missteps that most try to downplay or ignore, hoping that they'll go away when in actuality they're sabotaging your ability to save at every turn.
One that is hard to come to grips with is being with a spouse or partner that doesn't feel the same way about money as you do, perhaps you're the one content on saving and they have a propensity to spend any time extra money is made available.
The relationship might be strong enough to survive such diverse mentalities, but you can't overlook that money is one of the leading causes of separation mostly due to the fact that your significant other isn't on the same page as you from top to bottom, money wise.
This isn't to suggest that you need to end the relationship because they have a spending problem, for instance, but a frank, honest discussion needs to occur about money before any forthcoming steps or big financial decisions occur. The most amiable way of fixing this problem is giving the more financially sound individual of the two the reigns to start a savings plan, develop a budget and save and spend accordingly.
The other proverbial elephant in the room is your ability to earn money and spend it but without a clear cut initiative to save it based on having no budget whatsoever. Everyone has a family member or friend (or maybe it's, in fact, you) who has a decent job and seems to always have money or the ability to spend but can't quite find that brass ring to be able to save consistently or they're constantly living from paycheck to paycheck. That way of thinking is typically surrounded by not having a budget or any idea what you're actually paying for, other than the big three: house, car, student loan. From credit card debt to utilities to take out food, you have not one clue where your money goes.
The bigger money problems tend to center on a lack of organization or conflicting ideologies about money when second or third person is involved. To be successful at saving money, you simply can't have this or need to take whatever steps necessary to fix it immediately.
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